Saudi Arabia Economy Heading For Collapse?

Saudi Arabia has grown rich and powerful from oil. Despite a relatively small population, Saudi Arabia exerts tremendous influence.

This influence has a big corrupting effect, as some politicians in countries like Canada seem glad to set aside their values and principles and sell weapons to the ruthless Saudi Kingdom. This is despite Saudi Arabia’s horrific human rights record.

But it’s fair to say that if Saudi Arabia didn’t have oil, the western world wouldn’t give a shit about what happened there. And the Saudi Monarchy would be in serious trouble – facing a real possibility of being overthrown.

Events may be moving in that direction.

Oil prices are down. US oil production has surged. More countries are moving away from oil. And now, Saudi Arabia is slashing their public sector – trying to close a $100 billion deficit.

That may not sound like a big deal, but it is when you consider that 66% of Saudi’s with a job work for the government. So big cuts could lead to big unrest.

The fact the Saudi regime is willing to risk that unrest shows how bad the economic situation could become.

In fact, the deputy economy Minister of Saudi Arabia – Mohamed Al Tuwaijri – says without big reforms and a substantial change in the global economy, Saudi Arabia could be bankrupt in 3-4 years.

Nobody should cry any tears if the Saudi regime gets overthrown. The west has propped them up for far too long already with weapon sales and military cooperation.

It’s an oppressive, corrupt, and hypocritical regime. The world will be better off when Saudi Arabia is less influential.

Spencer Fernando